REGULATION 6/11

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Jul 4

South Korea imposes record fines on UBS affiliates for illegal short selling

The Financial Services Commission of Korea has levied record fines totaling KRW27.17bn (USD19.5) against two UBS AG affiliates—formerly...

Jul 4

FAMILY OFFICES

Singapore revokes tax benefits for family offices in USD3bn scandal

Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, who also chairs the Monetary Authority of Singapore...

Investors sue Mitsubishi UFJ over worthless Credit Suisse bonds

Jul 3

ASSET MANAGEMENT

Investors sue Mitsubishi UFJ over worthless Credit Suisse bonds

Investors in Japan have filed a new lawsuit against Mitsubishi UFJ Financial Group’s brokerage unit over losses from Credit Suisse’s...

Taiwan’s major tax evasion cases decline in numbers, value

Jul 3

REGULATION

Taiwan’s major tax evasion cases decline in numbers, value

Major tax evasion incidents in Taiwan decreased to 915 last year, with unpaid taxes falling to NTD89.51bn (USD2.75bn), according to the...

Vietnam tightens credit rules, impacting banks and big businesses

Jul 3

REGULATION

Vietnam tightens credit rules, impacting banks and big businesses

A new regulation under the amended Law on Credit Institutions, effective July 1, reduces bank credit limits for major clients,...

Central banks in Asia launch cross-border instant payment platform

Jul 2

REGULATION

Central banks in Asia launch cross-border instant payment platform

The central banks of India, Malaysia, Thailand, Singapore, and the Philippines are collaborating under the Bank of International...

Hong Kong’s new eMPF platform to cut MPF fees by 36%

Jun 27

REGULATION

Hong Kong’s new eMPF platform to cut MPF fees by 36%

Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu, urges employers and Mandatory Provident Fund (MPF) scheme...

Singapore tightens anti-money laundering laws

Jun 27

REGULATION

Singapore tightens anti-money laundering laws

Singapore will enhance its anti-money laundering laws, allowing the sale of seized assets before court cases conclude and extending...

China moves to prevent financial collapses with new fund

Jun 26

REGULATION

China moves to prevent financial collapses with new fund

China plans to establish a rescue fund worth hundreds of billions of yuan to prevent financial institution collapses due to the real...

Japan penalises MUFG for client confidentiality breach

Jun 26

REGULATION

Japan penalises MUFG for client confidentiality breach

Japan’s financial regulator penalised Mitsubishi UFJ Financial Group Inc.’s banking unit and two joint ventures for violating client...

World Bank calls for Indonesia tax overhaul

Jun 25

REGULATION

World Bank calls for Indonesia tax overhaul

Indonesia’s President-elect Prabowo Subianto must enhance tax reforms to address the widening fiscal deficit, World Bank officials said....

Hong Kong’s Insurance Authority warns of unlicensed sellers

Jun 25

REGULATION

Hong Kong’s Insurance Authority warns of unlicensed sellers

The Insurance Authority has warned the public, especially mainland visitors, against unlicensed insurance selling. Peter Gregoire, head...

Indonesia to freeze online gambling accounts

Jun 21

REGULATION

Indonesia to freeze online gambling accounts

Coordinating Minister for Political, Legal, and Security Affairs, Hadi Tjahjanto, announced Wednesday that bank accounts linked to online...

China proposes new measures to attract VC investment

Jun 21

REGULATION

China proposes new measures to attract VC investment

China plans new measures to boost venture capital in its tech sector, including from overseas. International investors can set up yuan...

China’s financial regulators announce key reforms

Jun 21

REGULATION

China’s financial regulators announce key reforms

China’s financial regulators announced reforms in Shanghai, targeting government bond trading and the tech-focused Star Market. Central...

Hong Kong aligns with global hubs on market weather rules

Jun 19

REGULATION

Hong Kong aligns with global hubs on market weather rules

Hong Kong will end its practice of closing markets during typhoons and major storms starting September 23. Chief Executive John Lee...

Korea eases REIT rules to boost real estate financing

Jun 18

REGULATION

Korea eases REIT rules to boost real estate financing

South Korea’s finance ministry announced Monday it will ease regulations on real estate investment trusts (REITs) to help normalise the...

Jun 17

FAMILY OFFICES

Singapore tightens oversight on family offices, hedge funds

Singapore is tightening regulations on family offices and hedge funds following recent scandals. Authorities demand more information and...

Thailand eases rules to attract more investors

Jun 17

REGULATION

Thailand eases rules to attract more investors

Thailand will ease procedures and offer more incentives to attract foreign investors in the film, food, and pharmaceutical industries....

Thai ministry revokes Zipmex’s licences amid financial turmoil

Jun 14

REGULATION

Thai ministry revokes Zipmex’s licences amid financial turmoil

The Thai Ministry of Finance has rescinded all operating licences of cryptocurrency exchange Zipmex, citing non-compliance and financial...

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